Textron Wins Canada’s Tactical Armoured Patrol Vehicle Program

Vehicle Designed and Engineered to Meet the Canadian Forces Needs for the Next 25 Years
GAGETOWN CFB, New Brunswick--(BUSINESS WIRE)--Jun. 8, 2012-- Textron Systems Canada Inc., a Textron …

Vehicle Designed and Engineered to Meet the Canadian Forces Needs for the Next 25 Years

GAGETOWN CFB, New Brunswick--(BUSINESS WIRE)--Jun. 8, 2012-- Textron Systems Canada Inc., a Textron Inc. (NYSE: TXT) company, today announced that it has been selected by the Canadian government for the Canadian Forces Tactical Armoured Patrol Vehicle (TAPV) program. The contract provides that the Textron TAPV Team, led by Textron Systems Canada, together with Textron Marine & Land Systems and Rheinmetall Canada, will manufacture 500 vehicles, with an option for up to 100 more.

The TAPV contract has a value of $603.4 million CAD, excluding government sales tax/harmonized sales tax (GST/HST), with an additional five-year in-service support contract of $105.4 million CAD, excluding GST/HST. The first vehicle is scheduled to be delivered to the Canadian Army in July 2014 and the last delivery is scheduled for March 2016.

Ottawa-based Textron Systems Canada, as prime contractor, will provide overall TAPV program and configuration management, act as design authority for change management, coordinate vehicle integration activities by Canadian subcontractors, manage the In-Service Support contract, and implement the Industrial and Regional Benefits program.

“We are honoured that the Department of National Defence and Public Works and Government Services found our team and vehicle best suited to their needs for this important program,” said Textron Systems President and Chief Executive Officer Fred Strader. “The Textron TAPV will provide the men and women of the Canadian Army a fully supportable tactical armoured vehicle platform that delivers outstanding performance in the world’s most challenging environments.”

Engineered over a five-year-period to meet and/or exceed Canada’s requirements, Textron’s TAPV is designed to be the most reliable and technologically advanced vehicle of its kind. It draws on the company’s more than 45 years of experience in the design and production of armoured vehicles. A technology readiness level 8 vehicle, the Textron TAPV has successfully completed extensive testing to confirm its ballistic, blast, mobility and reliability levels.

“The Textron TAPV will deliver an unmatched blend of survivability, crew protection, power, mobility and payload versatility,” explained Neil Rutter, general manager of Textron Systems Canada. “Our program team is ready to move forward to produce this modern and upgradable 4 by 4 armoured vehicle, which will serve the Canadian Army extremely well for the next 25 years.”

Textron currently employs more than 2,200 Canadians at its Textron Systems Canada, Bell Helicopter and Kautex facilities in Canada. Textron companies have procured approximately $450 million CAD in materials over the past year from Canadian supplier companies.

Textron Marine & Land Systems designs, produces and supports advanced wheeled combat vehicles and cutting-edge maritime craft used by U.S. and international armed forces, as well as civilian entities around the globe. Its family of Armored Security Vehicles offers enhanced survivability and highly mobile combat security vehicles with unmatched capabilities. Textron Marine & Land Systems’ innovative turret technology and related subsystems also deliver outstanding performance and reliability. Its strategic business, MillenWorks, operates an Engineering Center of Excellence with a reputation as a highly sought-after solution center, which designs and develops advanced mobility solutions for demanding on- and off-road applications. Textron Marine & Land Systems is an operating unit of Textron Systems. More information is available at www.textronmarineandland.com.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, performance issues with key suppliers, subcontractors or business partners; our ability to perform as anticipated and to control costs under government contracts; changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products.